Is it safe to buy real estate using crypto?
Asked 7 months ago
I have my eye on a gorgeous apartment near the beach in my hometown. My brother who works in finance told me that I can use my cryptocurrency to buy it. Is it safe to buy real estate using crypto?
Emilė Kleopatra Miežlaiškytė
Friday, May 06, 2022
When it comes to bitcoin and real estate, you might be wondering - can you really buy a property with cryptocurrency?
The answer is yes!
In the United States, the IRS has classified bitcoin as a form of real property. So, uniquely, real estate bitcoin transactions accommodate a separate layer of capital investment - in addition to the physical properties that are being bought and sold. Interestingly enough, this means that investors can use their cryptocurrency gains to purchase property - provided they follow the correct protocol and report their earnings accurately.
Of course, as with any major purchase, it's always wise to consult with a professional before making any decisions.
But if you're interested in using your crypto to invest in real estate, rest assured that it is possible!
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